Robinhood Q3 Crypto Revenue Soars 300%, Outpacing Earnings Expectations

Trading platform Robinhood saw its cryptocurrency revenue surge by a remarkable 300% compared to the same period last year, contributing significantly to the company’s overall profits. Its third-quarter earnings surpassed Wall Street forecasts, driven in part by increased cryptocurrency revenues of $268 million, which soared more than 300% from the previous year. This surge resulted in a doubling of Robinhood’s total quarterly revenues to $1.27 billion, exceeding analyst predictions of $1.2 billion. Earnings per share also experienced a substantial increase of 259%, reaching 61 cents per share, surpassing analysts’ estimates of 51 cents.